Architects of a failed $8.6 billion blank-check merger with Tilman Fertitta‘s restaurant and casino empire will pay $12.5 million to resolve claims that they pocketed most of a $33 million breakup fee—instead of sharing it with investors—after the billionaire Houston Rockets owner walked away from the deal.
Investors in Fast Acquisition Corp., the special purpose acquisition company that would have taken Fertitta’ Entertainment Inc. public, submitted the class action settlement Wednesday to Delaware’s Chancery Court. Fertitta’s subsidiaries include Landry’s Inc. and the Golden Nugget casino chain.
The lawsuit, filed in August 2022, targeted Ruby Tuesday Inc. founder Sandy ...
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